Author : W. Kip Viscusi
Publisher : Oxford University Press, USA
Page : 321 pages
File Size : 42,78 MB
Release : 1992
Category : Decision-making
ISBN : 0195102932
Examining issues related to the social regulation of risk, this volume contains essays on the value of life, empirical estimates of the value of life, the rationality of individual responses to risk, the effect of government risk regulation efforts, and the role of the courts and insurance.
Author : Robert Shimer
Publisher : Princeton University Press
Page : 189 pages
File Size : 30,89 MB
Release : 2010-04-12
Category : Business & Economics
ISBN : 1400835232
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
Author : Thomas J. Kniesner
Publisher : Now Publishers Inc
Page : 83 pages
File Size : 19,34 MB
Release : 2010
Category : Business & Economics
ISBN : 1601983700
Hedonic Wage Equilibrium examines empirically and theoretically the properties of the equilibrium wage function.
Author : George A. Akerlof
Publisher : Cambridge University Press
Page : 196 pages
File Size : 33,54 MB
Release : 1986-11-28
Category : Business & Economics
ISBN : 9780521312844
The contributors explore the reasons why involuntary unemployment happens when supply equals demand.
Author : Carl Davidson
Publisher : W.E. Upjohn Institute
Page : 156 pages
File Size : 34,74 MB
Release : 2004
Category : Business & Economics
ISBN : 0880992743
Author : Tito Boeri
Publisher : Princeton University Press
Page : 464 pages
File Size : 23,77 MB
Release : 2013-09-24
Category : Business & Economics
ISBN : 0691158932
Most labor economics textbooks pay little attention to actual labor markets, taking as reference a perfectly competitive market in which losing a job is not a big deal. The Economics of Imperfect Labor Markets is the only textbook to focus on imperfect labor markets and to provide a systematic framework for analyzing how labor market institutions operate. This expanded, updated, and thoroughly revised second edition includes a new chapter on labor-market discrimination; quantitative examples; data and programming files enabling users to replicate key results of the literature; exercises at the end of each chapter; and expanded technical appendixes. The Economics of Imperfect Labor Markets examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, active labor market policies, working-time regulations, family policies, equal opportunity legislation, collective bargaining, early retirement programs, education and migration policies, payroll taxes, and employment-conditional incentives. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are today being changed by political and economic forces. Expanded, thoroughly revised second edition New chapter on labor-market discrimination New quantitative examples New data sets enabling users to replicate key results of the literature New end-of-chapter exercises Expanded technical appendixes Unique focus on institutions in imperfect labor markets Integrated framework and systematic coverage Self-contained chapters on each of the most important labor-market institutions
Author : Nicolas Petrosky-Nadeau
Publisher : MIT Press
Page : 271 pages
File Size : 29,4 MB
Release : 2017-11-10
Category : Business & Economics
ISBN : 0262036452
An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets. This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on analyses of markets with frictions by 2010 Nobel laureates Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. It shows, in particular, how frictions in different markets interact with each other. The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in the economy.
Author : Richard E. Quandt
Publisher :
Page : 120 pages
File Size : 10,70 MB
Release : 1988
Category : Business & Economics
ISBN :
Author : Orley Ashenfelter
Publisher : Elsevier
Page : 800 pages
File Size : 42,34 MB
Release : 1999-11-18
Category : Business & Economics
ISBN : 9780444501899
A guide to the continually evolving field of labour economics.
Author : Christopher A. Pissarides
Publisher : MIT Press
Page : 273 pages
File Size : 44,64 MB
Release : 2000-03-02
Category : Business & Economics
ISBN : 0262264064
This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.
